1. Consider the following time series data. Week 1 2 3 4 5 6 Value 18 13 17 11 18 15 Using the naive method (most recent value) as the forecast for the next week, compute the following measures of...

1. Consider the following time series data.

Week	1	2	3	4	5	6
Value	18	13	17	11	18	15

Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy.

(a) mean absolute error MAE, Mean squared error MSE, Mean absolute percentage error MAPE

(b) What is the forecast for week 7?

Jun 07, 2022

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